News Highlights: Top Company News of the Day

Date : 03/26/2020 @ 7:30AM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Ackman Has Big Win on Bearish Market Bet 
 

William Ackman's Pershing Square just scored big on a bearish bet that enabled him to sidestep steep market losses.

 
Village Super Market, Amazon Clinch Fairway Market Assets in Bankruptcy Auction 
 

Village Super Market, which operates under banners including ShopRite, won a bankruptcy auction for five Fairway Market stores, including four in Manhattan, and its distribution center, while Amazon.com snapped up leases for two stores in New Jersey.

 
Groupon's CEO, Chief Operating Officer Both Step Down 
 

Rich Williams stepped down as CEO and Steve Krenzer as chief operating, with company insider Aaron Cooper assuming the leadership role on an interim basis.

 
Micron's View Is Nearsighted 
 

The chip maker issued a strong near-term outlook, but like others in the business world the chip maker can't forecast the effects of the pandemic.

 
RBC Seeks Fire-Sale Buyers for Seized Mortgage Debt 
 

Canada's largest bank by assets is moving to protect itself as pain spreads through the mortgage market.

 
Occidental Petroleum Reaches Truce With Activist Investor Carl Icahn 
 

Occidental Petroleum, the largest oil producer in the giant Permian Basin, has ceded to Carl Icahn's demands and announced deep spending cuts in a bid to survive the steepest crude-price plunge in decades.

 
SoftBank Dumps Moody's After a Two-Notch Downgrade 
 

The credit rating firm gave a thumbs down to SoftBank's plan to repurchase up to $41 billion in shares and debt, by lowering the Japanese technology giant's credit rating and questioning the "unexpected size and apparent urgency" of the move.

 
With Cinemas Shut Due to Coronavirus, Theater Chains at Risk of Default 
 

The shutdown of movie theaters world-wide due to the coronavirus pandemic has put cinema owners at heightened risk of default if they are unable to reopen in several months or secure a financial lifeline.

 
Coronavirus Boosts Target's Sales but Squeezes Profits 
 

Target's sales of food and household goods are surging because of the coronavirus pandemic, but it may report lower-than-expected profits as demand falls for high-margin goods and it becomes more expensive to clean and staff stores.

 
Credit Suisse Cuts Former Chief Executive's Bonus Due to Spying-Scandal Fallout 
 

Credit Suisse Group said it docked around $2.24 million from former chief executive Tidjane Thiam's 2019 bonus because of the "significant impact" of last year's spying scandal on the bank's reputation.

 
 

(END) Dow Jones Newswires

March 26, 2020 03:15 ET (07:15 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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